Illinois Municipal Retirement Fund increased its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO – Free Report) by 14.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,565 shares of the biopharmaceutical company’s stock after purchasing an additional 12,752 shares during the period. Illinois Municipal Retirement Fund’s holdings in Halozyme Therapeutics were worth $11,434,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Congress Asset Management Co. lifted its position in Halozyme Therapeutics by 85.6% during the third quarter. Congress Asset Management Co. now owns 2,281,615 shares of the biopharmaceutical company’s stock worth $251,890,000 after buying an additional 1,052,509 shares during the period. Bank of America Corp DE acquired a new stake in Halozyme Therapeutics in the 2nd quarter worth about $214,504,000. William Blair Investment Management LLC acquired a new stake in Halozyme Therapeutics in the 2nd quarter worth about $196,540,000. Royal London Asset Management Ltd. grew its holdings in Halozyme Therapeutics by 12.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 1,810,815 shares of the biopharmaceutical company’s stock valued at $141,732,000 after buying an additional 200,262 shares during the period. Finally, Jupiter Topco LLC purchased a new stake in Halozyme Therapeutics in the 2nd quarter valued at about $105,570,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.
Halozyme Therapeutics Stock Down 1.3%
Shares of NASDAQ:HALO opened at $101.68 on Thursday. The stock has a 50-day simple moving average of $114.95 and a 200-day simple moving average of $85.21. The stock has a market capitalization of $11.59 billion, a P/E ratio of 18.49, a PEG ratio of 0.39 and a beta of 0.92. Halozyme Therapeutics, Inc. has a 1 year low of $61.22 and a 1 year high of $134.00. The company has a debt-to-equity ratio of 13.50, a quick ratio of 3.60 and a current ratio of 3.88.
Halozyme Therapeutics (NASDAQ:HALO – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.09. The firm had revenue of $492.97 million for the quarter, compared to analysts’ expectations of $491.63 million. Halozyme Therapeutics had a net margin of 26.93% and a return on equity of 751.81%. Halozyme Therapeutics’s revenue was up 39.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 earnings per share. Equities analysts forecast that Halozyme Therapeutics, Inc. will post 8.34 earnings per share for the current year.
Insider Buying and Selling at Halozyme Therapeutics
In related news, Director Matthew L. Posard sold 5,230 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $108.54, for a total transaction of $567,664.20. Following the completion of the sale, the director directly owned 53,609 shares of the company’s stock, valued at approximately $5,818,720.86. This represents a 8.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of the company’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $109.40, for a total transaction of $2,188,000.00. Following the sale, the chief executive officer directly owned 767,780 shares of the company’s stock, valued at approximately $83,995,132. This trade represents a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 124,226 shares of company stock valued at $13,370,893 in the last three months. Company insiders own 2.50% of the company’s stock.
Analysts Set New Price Targets
HALO has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Halozyme Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. HC Wainwright increased their price objective on shares of Halozyme Therapeutics from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. JPMorgan Chase & Co. raised their target price on shares of Halozyme Therapeutics from $78.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 3rd. Weiss Ratings upgraded shares of Halozyme Therapeutics from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Finally, TD Cowen upped their price target on shares of Halozyme Therapeutics from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $108.18.
Read Our Latest Stock Report on HALO
Halozyme Therapeutics Company Profile
Halozyme Therapeutics, Inc. is a biotechnology company focused on developing drug-delivery technologies and medicines. Its ENHANZE platform uses a recombinant human hyaluronidase enzyme, rHuPH20, to temporarily modify tissue under the skin and help enable the subcutaneous administration of certain biologic medicines that might otherwise require intravenous infusion. Halozyme licenses ENHANZE to pharmaceutical and biotechnology partners, which use the technology in their own products. The company also markets Hylenex recombinant, a hyaluronidase product used to facilitate the dispersion and absorption of other injected medicines and fluids.
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